Stablecoin supply down below $125 billion as capital continues to leak from crypto
Key Takeaways The total supply of stablecoins has fallen every month since UST collapsed in May 2023 Last month saw another $1.7 billion of outflows, the total supply now 33% off its peak Tether’s market share has increased amid stuttering rivals, but all other coins have seen large drawdowns Liquidity and volume in the space overall is thin and continues to fall If one wanted to sum up the past few years in crypto, the stablecoin market would be a good place to start. The branch of the industry so important for liquidity has been heavily dented, with the total supply of stablecoins on the market now less than $125 billion. That represents a 33% decline from the peak of $188 billion, on the eve of the Terra collapse last May. Since that infamous Terra meltdown, which saw the $18 billion UST not-so-stablecoin evaporate into thin air, the market has continued to pare down. In line with a tightening in financia...